ow much Shane has to set aside at the end of each month for the next five years in order to have $34,000 after five years to buy a new car interest rate is 3% per year compounded monthly
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- Jimmy takes up a $50,000 loan from a bank and plans to repay the bank each month over the next 5 years, what is the yearly payment if the interest rate is 3% per annum?Cena deposits a certain amount of money into his family’s savings account at the beginning of each quarter for the next 4 years. He wishes to have $100,000.00 after 4 years. The interest rate is 8% compounded quarterly. How much does he need to deposit at the beginning of each quarter? Create an amortization table.Aidan deposits $1000 at the end of each quarter in an account that pays 5.25% per year, compounded quarterly. If he does this for 25 years, how much will be in the account?
- John contributes $5,000 per month into an account. How much will he have in the account after 25 years if the account earns at an annual interest rate of 4.5% compunded yearly?Rebecca Carlson purchases a car for $25,000 and finances her purchase by borrowing the money at 8% per year compounded monthly; she pays off the loan with equal monthly payments for 5 years. What will be the size of her monthly loan payment?In 6 years Harry and Sally would like to have $24000 for a down payment on a house. How much should they deposit each month into an account paying 14% compounded monthly?
- mico borrows $23,000 to buy a car at 7.5% per year compounded monthly. He will pay it back by making equal monthly paymenst over 5 years. how much interest will mico payPatrick makes payments of $250 per month at the end of each month. At the end of 10 years, he wants to have $50,000. What annual interest rate would he need in order to make that happen?Fritz Benjami buys a car costing $14200. He agrees to make payments at the end of each monthly period for 6 years. He pays 6.0% interest, compounded monthly. What is the amount of each payment? Find the total amount of interest Fritz will pay.
- 11) Max purchases a lot for $300,000. Max will pay $25,000 dollars at the end of each year. the interest rate is 4% compounded annually, how many full payments must be made? a) what will be the size of the payment one year after the last full payment?Mr. Ramos savings allow her to withdraw 50,000 semi -annually for 11 years starting at the end of 4 years. How much is Mr. Ramos's savings if the interest rate is 5% converted semi-annually ?How much should Brianna's dad invest in a savings account today, to be able to pay for Brianna's rent for the next six years, if the rent is $750, payable at the beginning of each month? The savings account earns 3.19% compounded monthly. Please explain in details
